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The satellite communications company received a $10 million order from a Tier-1 aerospace systems integrator for Ka frequency transmitters to support high-speed Internet connectivity in aircraft. The deal will be with Wavestream, Gilat’s American subsidiary. However, Gilat does not specify when she will receive the money.
“We are pleased to continue to meet the evolving requirements of Gilat’s trusted partner, who for years has relied on our solutions for high-speed in-flight internet connectivity,” said Bob Hoffman, CEO of Wavestream and Senior Vice President of Gilat. “With these new orders, Wavestream continues to strengthen its leadership in the high-speed in-flight internet connectivity market, and there are now over 3,000 units successfully operating on commercial and business aircraft around the world.”
About two months ago, Gilat reported on a $7 million deal to expand a cellular network in Asia Pacific for a company to expand coverage in the 4G generation cellular network.
In its reports for the second quarter of 2022, Gilat reported a slight increase of 2% in revenues compared to the corresponding quarter and stood at $55.5 million, below the forecasts of analysts who expected revenues of $56.2 million.
Adjusted operating profit was $2.4 million compared to $100,000 in the corresponding quarter, and net profit was $1.4 million, above analysts’ forecasts. In the corresponding quarter, the net profit was 300 thousand dollars.
The company continues to expect annual revenues in the range of 245 – 265 million dollars, a growth of 14% to 23% compared to 2021. The operating profit is expected to be between 5 and 9 million dollars and the EBITDA between 20 and 24 million dollars.
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